The Quarterly VAT report (Italian: Comunicazione delle liquidazioni periodiche IVA, “LIPE”) is a report that has been required to be submitted regularly under Italian VAT law since 2017.
With the Quarterly VAT report, the taxable person communicates the results of their monthly or quarterly VAT settlements. The report is for informational purposes only.
Affected companies
In principle, all businesses and self-employed professionals with an Italian VAT number are required to submit the Quarterly VAT report. Taxable persons are exempt only if they are not required to submit the annual VAT return and/or are not required to perform periodic VAT settlements, in the cases provided for by law. This may include, in particular:
- Taxable persons who exclusively carry out VAT-exempt transactions
- Taxable persons who apply one of the flat-rate systems (regime dei minimi or regime forfettario)
- Exempt farmers pursuant to Art. 34(6) DPR 633/72
- Associations under the flat tax regime, system pursuant to Law 398/91
- Non-established taxpayers who apply the OSS scheme exclusively, where applicable
Deadlines
The quarterly VAT report must be submitted every quarter. The deadlines are:
- 1st quarter: May 31
- 2nd quarter: September 30
- 3rd quarter: November 30
- 4th quarter: February 28
If the annual VAT declaration is submitted by February 28 and the VP overview is completed in full, the Quarterly VAT report for the 4th quarter does not need to be submitted.
If a deadline falls on a weekend, it is postponed to the next working day.
Contents
The Quarterly VAT report consists of the following components:
Cover sheet
The following information is provided here:
- Reference year
- Taxable person's VAT number
- VAT number of the controlling company in the case of a VAT group settlement
VP section
A separate VP overview is created for each individual settlement period. This contains all information relating to VAT settlement, including:
- Total of active and passive business transactions
- VAT owed
- VAT deducted
- VAT liability or VAT credit
With monthly accounting, a separate overview is created for each month.
For quarterly accounting, a single overview is created for the entire quarter.
No individual invoices are reported, only the totals for the respective month or quarter. The Quarterly VAT report does not replace the annual VAT declaration or the payment of VAT.
VAT payment
The Quarterly VAT report is not a payment declaration. VAT payments continue to be made separately, usually using the F24 payment form, in accordance with the applicable billing cycles (monthly or quarterly).
Corrections and penalties
Incorrect or missing Quarterly VAT reports can be corrected by means of correction notices.
- be corrected by means of correction returns
- lead to administrative penalties in the event of late or omitted levies